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Gauging price for selling second hand kit ?

Hi everyone, 

 

quick question, how does everyone gauge how much you sell second hand machines for? Look around at prices of similar items already up for sale? Work out a depreciation, how much the machine owes you? Just looking at getting peoples views on the subject.

 

Many thanks Harry 

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  • Harry, we use Gumtree, seems like you get fewer time wasters than internet auction sites, also tends to favour local buyer's more and it's free.

    As to gauging asking prices it's about thinking who your purchasers are likely to be. Obviously someone who either can't afford a new machine, can't justify the cost of new, or is unwilling to pay for new and thinks they are getting a bargain.

    Yes look at prices for similar machines but our experience in buying used never tells the whole story, it's very difficult to ascertain whether a machine is worth buying from an internet listing so you shouldn't be too influenced.

    We work on halving the new price, or what we paid and then adjusting upwards or downwards depending on condition, also the likely demand at the time of year you are selling. I.E selling a Billy Goat in March is not going to reflect it's true value and therefore what price someone is likely to pay as opposed to selling it in September.

    So no hard and fast rules on pricing, but be realistic in your expectations.

    • PRO

      Thank you for reply Peter, much appreciated 

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